Element Fleet Management Corporation Stock Forecast
Green day on Tuesday for Element Fleet Management Corporation
(Updated on Apr 23, 2024)
The Element Fleet Management Corporation stock price gained 0.139% on the last trading day (Tuesday, 23rd Apr 2024), rising from $21.57 to $21.60. During the last trading day the stock fluctuated 1.30% from a day low at $21.57 to a day high of $21.85. The price has fallen in 6 of the last 10 days and is down by -2.04% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 149 thousand more shares were traded than the day before. In total, 585 thousand shares were bought and sold for approximately $12.64 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.84% during the next 3 months and, with a 90% probability hold a price between $19.45 and $20.99 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EFN.TO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.41%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Element Fleet Management Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $21.95. On a fall, the stock will find some support from the short-term average at $21.45. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Element Fleet Management Corporation stock
Element Fleet Management Corporation finds support from accumulated volume at $21.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.280 between high and low, or 1.30%. For the last week the stock has had daily average volatility of 1.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EFN.TO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Element Fleet Management Corporation to open at $21.67, and during the day (based on 14 day Average True Range), to move between $21.26 and $21.94, which gives a possible trading interval of +/-$0.344 (+/-1.59%) up or down from last closing price. If Element Fleet Management Corporation takes out the full calculated possible swing range there will be an estimated 3.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.54 (0.28%) than the resistance at $22.12 (2.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Element Fleet Management Corporation stock A Buy?
Element Fleet Management Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.774 Sell Candidate Unchanged
Predicted Opening Price for Element Fleet Management Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $21.67 ( 0.340%) | $21.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EFN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.95 | 1.64 % | |
| R2 | 21.85 | 1.14 % | ||
| R1 | 21.78 | 0.83 % | ||
| Current price: | 21.60 | |||
| Support | S1 | 21.57 | -0.156 % | |
| S2 | 21.50 | -0.462 % | ||
| S3 | 21.39 | -0.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.68 | 5.00 % | |
| R2 | 22.65 | 4.86 % | ||
| R1 | 22.12 | 2.41 % | ||
| Current price | 21.60 | |||
| Support | S1 | 21.54 | -0.278% | |
| S2 | 21.52 | -0.370% | ||
| S3 | 21.30 | -1.39% |
EFN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Mar 27, 2024 | Apr 15, 2024 | $0.120 | 0.563% |
| 2 | Nov 06, 2023 | Dec 28, 2023 | Jan 15, 2024 | $0.120 | 0.532% |
| 3 | Aug 08, 2023 | Sep 28, 2023 | Oct 13, 2023 | $0.100 | 0.518% |
| 4 | May 10, 2023 | Jun 29, 2023 | Jul 14, 2023 | $0.100 | 0.467% |
| 5 | Mar 06, 2023 | Mar 30, 2023 | Apr 14, 2023 | $0.100 | 0.568% |
FAQ
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